Block of Apartments
For sale part let/ Part vacant.
Made up of 3 large Victorian Villa type properties, now arranged as a large retail unit to the ground floor and 3 self-contained apartments above.
The retail unit will be sold with vacant possession. Two of the flats are let out and one is currently under refurbishment.
Current income from two flats- £10,200 per annum.
Estimated income when fully let - £40,000 - £45,000 per annum.
The property offer scope for further development to the rear and also boasts a large loft space. An internal viewing is highly recommended.
In more detail:
Approx 4000sqft
Main sales areas
Workshop
Store
Kitchen/Staffroom,
Male and Female Toilets.
Small rear yard with storage area and access from Lorne Rd.
This has scope for conversion to residential or split into 3 smaller shops, subject to permissions.
Estimated rent - £20,000 - £25,000 per annum.
Rec Hall
Lounge
Kitchen
Bedroom 1
Ensuite
Bedroom 2
Bedroom 3
Bathroom
Full market rent £650 pcm
Rec Hall
Lounge / Diner
Kitchen
Bedroom 1
Bathroom
Full market rent £500 pcm
Rec Hall
Lounge/Diner
Kitchen
Bedroom 1
Potential for Bedroom 2
Bathroom
Estimated Market Rent £600 pcm
Freehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
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